Cleary Gottlieb represented Cushman & Wakefield in the repricing of a portion of its existing term loan credit facility.
Pursuant to the transaction, Cushman & Wakefield refinanced a portion of its existing term loans with new, repriced term loans, in an aggregate principal amount of approximately $1 billion. The repricing transaction reduced the applicable margin by 25 basis points, resulting in meaningful per annum cash interest expense savings.
The transaction closed on April 9, 2024.
Cushman & Wakefield is a leading global real estate services firm that delivers exceptional value by putting ideas into action for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with 52,000 employees in approximately 400 offices and 60 countries. In 2023, the firm had revenue of $9.5 billion across core services of property, facilities and project management, leasing, capital markets, valuation, and other services.